Forward looking statements

Transcription

1 Development and Opportunities across Vietnam and the Nam Con Son Basin 22 June 21

2 Forward looking statements This presentation may contain forward-looking statements and information that both represents management's current expectations or beliefs concerning future events and are subject to known and unknown risks and uncertainties. A number of factors could cause actual results, performance or events to differ materially from those expressed or implied by these forward-looking statements. June 21 Page 1

3 Vietnam at a glance Capital Hanoi (Largest city Ho Chi Minh City) Official language - Vietnamese Government Socialist republic, Single-party communist state President Nguyễn Minh Triết Prime Minister Nguyễn Tấn Dũng Area: 331,69 km2 Population: April 1, 29 census 85,789,573 GDP (PPP) 29 estimate GDP (nominal) 29 estimate Total $ billion Total $ billion Per capita $2,942 Per capita $1,6 Currency đồng ( ) (VND) June 21 Page 2

4 Premier Oil in Vietnam J F M A M J J A S O N D 24 Farmed in to VAMEX 7/3 option Established Office in HCMC Awarded 75% Blocks 12E & 12W Acquired 2D data in 7/3 25 Acquired Dua 3D 26 Santos entered 12W retain 37.5% Drilled Dua 4-X Discovery Block 12 exploration 2D seismic Drilled Dua 5-X Discovery Drilled Chim Sáo Discovery Exercised 7/3 option (45%) 27 Delineation sidetrack of Chim Sáo Acquired Chim Sáo 3D seismic Became Operator of 7/3 7/3 out of Force Majeure 28 PVN Performance Award Awarded 5% Block 14-19/5 Successful Chim Sáo appraisal Follow up 12W exploration wells PVN approved Chim Sáo FDP Commenced Chim Sao EPCI 29 PVN HSE & Performance Award PPP enter 7/3 retain 3% CRD discovery on Block 7/3 Purchased Delek 12W (53.125%) Completed CRD appraisal 3D PVN approved EOCP FPSO Drilled CRV End of 12W exploration period 21 Install Chim Sáo Jacket Start Development Drilling 3D seismic 14-19/5 Install Chim Sáo Topsides 3D Seismic Block 7/3 211 FPSO to arrive at Chim Sáo Chim Sáo First Oil 212 Complete Development Drilling Transactions Seismic Drilling Development June 21 Page 3

5 Organisation - POVO management team Phil MacLaurin Country Manager Peter Henderson Development Manager Alexis Van Lennep Exploration Manager Sean Middleton Project Manager Jamie Bassett Commercial Manager Charles Dunne Drilling Manager Philip Turner Finance & Adm Manager Quyen, Dao Nhat HSE Manager Khanh, Tranh Thi Van HR Manager Andrew Beal Legal and risk advisor Chinh, Tran Diem Office Manager June 21 Page 4

6 HSES June 21 Page 5

7 HSES Exploration Development Drilling Office Vietnam BU Total Hours 6,976 1,62,33 12,552 27,252 1,11,34 Internal Hours 6,976 35,424 12,552 27,252 82,74 External Hours 1,27,33 1,27,33 LTI RWDC 1 1 Env. Incidents FAC / MTC 2 2 Prop. Damage Near Miss 7 7 HIPO Incident 2 2 June 21 Page 6

8 International HSES certification June 21 Page 7

9 HSES 29 PVN HSE Award for Chim Sao Project 28 PVN HSE Award for Drilling & Logistics June 21 Page 8

10 Exploration June 21 Page 9

11 Block 14-19/5 Song Hong Basin Block 14-19/5 Larger than 1 UK Quad in the North Sea 1 UK Quad June 21 Page 1

12 Natuna Sea Block A to Nam Con Son Block 12W 12W Nam Con Son Basin / East Natuna Sea Dua Discovery Chim Sao Development Learnings Learnings Tuna 7/3 Natuna Sea Block A June 21 Page 11

13 Dua & Chim Sao to Block 7 Extending a new play Dua Development Chim Sao Development Cá Rồng Đỏ Discovery June 21 Page 12

14 Indonesia Tuna PSC - Gajah Laut Utara 1 Top Arang Depth C.I.=1 metres W Gajah Laut Utara PTD 425m MD (355m TVD) E 25m PRIMARY TARGET PTD SECONDARY TARGET June 21 Page 13 2 Km

15 Indonesia Tuna PSC - Belut Laut 1 NE Belut Laut PTD 43m MD (387m TVD) SW Top Arang Depth C.I.=1 metres 25m PRIMARY TARGET PRIMARY TARGET PTD SECONDARY TARGET June 21 Page 14 2 Km

16 Block 7/3 Further exploration potential June 21 Page 15

17 Development June 21 Page 16

18 Chim Sao Revised scope / lower cost ORIGINAL POVO BLOCK 12W FIELD LAYOUT PROPOSED CHIM SAO WHP FIELD LAYOUT June 21 Page 17

19 Project on schedule Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M A Jacket Fabrication & Installation Topsides Fabrication & Installation Chim Sao Field Installations FPSO Conversion FPSO Installation and Commissioning Drilling First Oil 1 st July 211 June 21 Page 18

20 Jacket completion, load out and installation June 21 Page 19

21 Jacket in transit June 21 Page 2

22 Jacket being installed by Castoro-8 June 21 Page 21

23 Jacket installation complete 9 days ahead of schedule June 21 Page 22

24 Topsides complete, ready for load-out June 21 Page 23

25 FPSO on schedule for mid-211 first oil production June 21 Page 24

26 Reservoir detailed planning June 21 Page 25

27 Dua potential addition to Block 12W development June 21 Page 26

28 Drilling June 21 Page 27

29 Two year drilling program contracted to Ensco June 21 Page 28

30 Chim Sao long reach wells industry experience Worldwide ERD experience envelope 5 1 True vertical depth (m) Measured depth (m) June 21 Page 29

31 Drilling environment and well design June 21 Page 3

32 Completion design production well June 21 Page 31

33 June 21 Page 32 June 21